Overdraft Services
Overdraft Privilege- Many personal checking accounts are eligible for standard overdraft privilege for checks, recurring debit card payments and bill payments. This service allows all of your transactions to be considered for payment when sufficient funds are not available, except one-time ATM and debit card transactions.
Overdraft Coverage for Debit Card- Additional coverage is available for customers that currently have Overdraft Privilege on their account. This coverage allows ATM debits and debit card transactions to be made even if there aren’t sufficient funds in the account. By opting in to Overdraft Coverage for Debit Card, customers avoid the embarrassment of having their ATM withdrawals or debit card purchases denied for things like groceries, gas or emergency repairs when there are not sufficient funds in their account.
After you have reviewed the disclosure, to opt in simply call 1-800-498-0414 or complete the "Election Form" portion located at the bottom of the Opt-in consent form, then return it to your neighborhood Traditional Bank location.
Avoiding Overdrafts
Link to an Account... link your checking account(s) to another Traditional Bank deposit account (savings or checking) or a line of credit (Home Equity) to be used to cover overdrafts. Call your neighborhood branch to learn more about linking your account(s).
Stay in the Know...enroll in Online Banking to view accounts in real time, research account history, pay bills, set reminders, transfer funds and much more.
- Text Banking- check balances and account history via text command.
- Mobile Banking- instant connectivity to your accounts anytime, anywhere using the Traditional Bank App on your mobile device.
- Account Alerts- set up account alerts to be sent to you via email or mobile device to stay aware of account activity.
Login to online banking or Enroll Today!
Frequently Asked Questions
- What is an overdraft?
An overdraft occurs when money is withdrawn or transactions (checks, debit card purchases, electronic funds transfer, etc.) are paid from a checking account and the available balance goes below zero.
- How much does Overdraft Coverage for Debit Card cost?
There is no fee to Opt-in to this service
- If your account is overdrawn, our standard overdraft fee of $32 per item will apply.
- Is Overdraft Coverage for Debit Card different from Account Link?
Yes, they are different. Both services are optional and you can sign up for one or both depending on how you like to manage your money. You do not need to have one in order to have the other. You do need to have Overdraft Privilege in order to opt-in to Overdraft Coverage for Debit card.
With Account Link:
- Your eligible accounts (checking, savings, or line of credit) are linked to your checking account.
- If there isn't enough money in your checking account, available funds in your linked accounts will be used to approve and pay any of your transactions.
With Overdraft Coverage for Debit Card:
- Your ATM or everyday debit card transactions may be approved — at our discretion — if you do not have enough money in your checking account or accounts linked for Overdraft Transfer. This is a discretionary service that may be helpful if you aren’t carrying an alternative form of payment like a credit card or cash.
- What if I have multiple personal checking accounts?
The overdraft coverage you select is applied on an individual account basis. If you choose to have on multiple accounts, you will need to opt-in for each account that applies. Call or visit your nearest Traditional Bank location and we'll be happy to help you.
- Does Overdraft Coverage for Debit Card affect my automatic or recurring debit card payments?
No. The service does not impact recurring debit card transactions where you have pre-authorized a merchant to pay your monthly utility bill or other bills with your debit card. Debit card transactions that are set up to pay automatically may continue to be authorized at our discretion, even if you do not add Overdraft Coverage for Debit Card. Our standard overdraft policies and fee of $32 per item would apply if the account is overdrawn.
- Does Overdraft Coverage for Debit Card affect my checks?
No. The service only covers ATM and everyday debit card transactions and does not cover the payment or processing of checks. Checks may be paid into overdraft or returned at our discretion, even if you do not add Overdraft Coverage for Debit Card. Our standard overdraft policies and fee of $32 per item would apply.
- Does Traditional Bank guarantee transactions will be approved with Overdraft Coverage for Debit Card?
No. The payment of transactions into overdraft remains a discretionary decision of Traditional Bank and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing or if you have had excessive overdrafts.
- What fees will I be charged if Traditional Bank pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $32 per item each time we pay an overdraft
- Also, we will charge you $15 for every 5 consecutive business days your account is overdrawn
- Maximum daily overdraft charge limited to five (5) items paid
- Overdraft per item fees waived on accounts that are overdrawn $5 or less
- How do I add or remove Overdraft Coverage for Debit Card?
You can add or remove Overdraft Coverage for Debit Card at any time by visiting or calling your nearest Traditional Bank banking location.
We pay overdrafts at our discretion, as defined in our Overdraft Privilege Service Description. We do not guarantee that we will always authorize and pay every type of transaction that may result in an overdraft.